Malibu Cove Colony Home Tops List of LA Luxe Resi Contracts

A Malibu Cove Colony property tops last week’s list of the largest residential contracts signed in Los Angeles County.

That’s the word from the Eklund Weekly Luxury Report LA, which tallied contracts signed on listings above $4 million within the county between Aug. 5 and Aug. 11. The four-bed, three-bath home at 26940 Malibu Cove Colony Drive counts the beach as its backyard, with a listing price just under $11 million.

Douglas Elliman’s Ivan Estrada has the listing on the home, which property records show is owned by a trust tied to Renee Kaswan, the late inventor of Restatis dry-eye treatment and a philanthropist whose foray into affordable housing in Koreatown ended in a financial meltdown.

The roughly 3,500-square-foot home in Malibu Cove Colony first went on sale in the spring of 2022 for $21.6 million before going on and off the market as a rental and for sale with several price reductions along the way, according to Zillow.

The beachfront contemporary, designed by architect Ron Goldman, has floor-to-ceiling windows, a two-story foyer, Tesla chargers and ocean views.

L.A. County’s second-largest signed contract last week was a Hidden Hills home at 23738 Long Valley Road.

The six-bed, nine-bath property totaling 9,376 square feet is listed at $9.3 million.

Douglas Elliman’s Marc Shevin and Sara Shevin have the listing. Property records show the home is owned by Micah Scheinberg and Cara Scheinberg.

Highlights include a pool, spa and full-size court for sports such as pickleball.

In total, Los Angeles County reported three more contracts in the week ended Aug. 11 in comparison to the prior seven-day period, according to the Eklund report. The market saw a total of 16 signed contracts last week, including one condo unit.

Total volume for last week’s contracts was $102.8 million, which amounted to a 26 percent jump from the prior reporting period.